Education has become increasingly data driven over the last decade of education reform and tutoring companies who want to continue serving the needs of school districts will have to provide data about their tutoring programs.There are three types of records all tutoring company’s should be keeping in their tutoring businesses:
1. Financial Data
2. Student School Academic Gains
3. Student Standardized Test Score Gains
Financial Data
Keeping financial data is crucial because government grants are placing an increasing emphasis on having a sound financial organization. Government grants applications are requesting financial projections, profit and loss statements, bank account records, verification of bank deposits, verification of bank balances, and/or letters of investment (notarized).
Getting accounting software for tutoring companies will save you time and money when filling out these grant applications. Being able to prove you have a sound business structure and a history of strong financial returns is also a strong selling point when approaching school districts, afterschool centers, and parents. During the SES boom years, some tutoring companies earned a reputation for poor accounting and unreliability – for those unfamiliar with the difference between tutoring companies, it became easy to paint all tutoring companies with the same broad brush. Financial transparency is one way to separate yourself from the pack.
Student School Academic Gains
There are two reasons a student will receive tutoring services, and academic gains is one of them. Those tutoring companies who keep track of their data and are able to show consistent academic gains, year after year are in the best marketing position. The cost of tutoring services matters little in the face of gains. Those records are also required by many education grant government applications and extremely useful when offering “proof” to parents about the effectiveness of your services. Tutoring companies will want to get a record of student report card grades the year prior to tutoring and record the gains the year the student is in tutoring.
Student Standardized Test Score Gains
In addition to student academic gains, there is a heavy emphasis placed on student scores on state standardized tests. Other standardized test like the ACT and SAT also factor heavily in the student’s lives and documenting student standardized test score gains will serve to validate the effectiveness of your tutoring program.
Keeping good records in your tutoring business is vital if you are serious about running a successful tutoring business whether you cater to private pay clients or rely on government contracts. If you need your education government contract reviewed, please feel free to contact me at info@sestutoringbiz.com
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